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Morgan Stanley fines bankers over $1 million each for using unapproved messaging platforms
The firm is the latest bank to require individual staff to bear some of the burden of an unprecedented regulatory investigation.
BlackRock, Citigroup among firms named as fossil-fuel boycotters by Kentucky
State legislation requires state entities to divest from firms on the list, with certain exceptions.
Accountability for inclusion ratchets up with JPMorgan critique, Knight Foundation report
Transparency isn't always clear, especially when critics take issue with the way companies calculate accountability.
JPMorgan executes first live trade on public blockchain
The bank issued tokenized $71,000 as part of the Singapore central bank’s pilot programs exploring the use of decentralized finance in the banking sector.
JPMorgan posts highest net interest income ever in Q3, raises guidance for year
The firm reaps rewards from the Federal Reserve's interest rate hike while expenses also came in lower than analysts expected, driving a profit beat.
Wall Street firms hit with $2 billion in fines in WhatsApp probe
The penalties levied against firms including Citigroup, Bank of America and Goldman Sachs constitute the largest-ever penalties against US banks for record-keeping lapses.
Wall Street firms seen paying historic fine to settle WhatsApp probe
The results of the investigation could be released as soon as Wednesday and could see regulators extracting total fines of around $2 billion.
Wells Fargo plans third-party racial equity audit
The announcement that the bank hired law firm Covington & Burling to do an assessment comes as CEO Scharf prepares to appear at a pair of congressional hearings.
Global bonds step into bear market as central banks seek to quash inflation
Rapid interest-rate hikes deployed by policy makers in response to soaring inflation have brought to an end a four-decade bull market in bonds.
Wells Fargo plans retreat from mortgage business
The bank, which once made one out of every three home loans in the U.S., plans to trim its mortgage business after years of struggles with regulatory probes.
JPMorgan strategist stands out with call for stocks rebound
JPMorgan's Marko Kolanovic expects a rebound in stocks on attractive valuations and as the peak in investor bearishness has likely passed.
Wall Street texting habit sticks banks with rare $1 billion bill
The sweeping civil probes rank among the largest-ever penalties levied against US banks for record-keeping lapses.
JPMorgan halts share buybacks as earnings miss estimates
The pause in buybacks is needed to quickly meet higher capital requirements and give the firm "flexibility to best serve our customers, clients and community," said CEO Jamie Dimon.
Morgan Stanley expects $200 million fine for misuse of personal devices
Meanwhile, the firm's wealth management franchise reported positives for the second quarter despite the broad stock market decline seen so far this year.
Wirehouses ready for their ‘Empire Strikes Back’ moment on adviser fintech
Morgan Stanley revealed its fully armed and operational adviser fintech ecosystem at a recent media event in New York City.
JPMorgan cuts growth forecasts ‘perilously close’ to recession
The reduced its estimate for annualized gross domestic product growth to 1% for the second quarter, down from 2.5% previously.
JPMorgan will cover employees’ abortion-travel costs starting next month
Benefit will go into effect July 1 at JPMorgan, Goldman Sachs and Bank of America.
JPMorgan to hire 1,300 more advisers over next three years
The additions, which would boost head count to 6,000 from about 4,700, are part of a strategy to boosts the firm's wealth management assets to $1 trillion.
$5 trillion ‘wealth shock’ is cracking Americans’ nest eggs
Households had piled up an extra $38.5 trillion in wealth over the last two years, but since the start of this year, wealth has plunged at least $5 trillion, JPMorgan Chase estimates.
Stock sell-off to intensify as fresh 10% plunge looms, survey finds
The Fed’s hawkish-at-all-costs posture, the chaos in supply chains and intensifying threats to the business cycle are all undermining confidence.
